France’s payments market is mature and highly competitive, registering the highest turnover per card for 2017 among peers including the UK, the US, Germany, Italy, Spain and Canada. The average annual spend per card is also highest in France.

Debit and charge are the most popular types of card, while credit card usage is low due to the debt-averse nature of French consumers. Many are still heavy users of cash, but those who do possess cards – particularly debit and deferred debit cards – use them frequently at the POS.

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France has a highly developed POS infrastructure, with a large number of POS terminals overall, as well as a large proportion of contactless-compatible terminals, driven in part by the French government’s efforts.

A typical feature of France’s payment card market is the availability of multi-functional cards, whereby a single payment card has more than one function, providing access to several accounts. The most popular combination is debit and credit facilities.

Credit card usage is low in France due to consumer aversion to debt, stringent issuance guidelines, and the availability of private-label cards, which unlike bank-issued credit cards carry less stringent qualification requirements. Private-label issuers collaborate with supermarkets, car repair workshops, and digital content retailers to issue co-branded cards.

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The French e-commerce market is highly developed, ranking fifth-largest globally in terms of spend behind China, the US, the UK and Japan. The e-commerce market posted a CAGR of 13% during 2013- 2017 as consumers became increasingly comfortable shopping online. French online buyers use payment cards heavily, driven by comfort, convenience and security.

High online and smartphone penetration, rising consumer confidence in online transactions, and the presence of secure online gateways have driven e-commerce growth. With more than half of all internet users in France involved in online shopping, lower levels of indebtedness compared with other European countries, and a relatively young population, e-commerce will register strong growth to 2021.

In 2016, the French government passed legislation requiring businesses to install POS terminals capable of accepting contactless cards and NFC mobile wallets. Designed to improve adoption and usage of mobile payments and contactless cards, the move will also significantly impact terminal manufacturers, which are no longer permitted to sell contact-only devices.

Prepaid cards are available for various consumer segments and are accepted almost everywhere. Cards are usually linked to a bank account so transactions are easily traceable and funds can be loaded conveniently. La Banque Postale has been issuing prepaid cards since 2008, and offers personalised non-rechargeable cards.